Keep It Simple Stupid. Seriously.

by Liam 10:46 0 comments Dad Football KISS NZDUSD

How many times have I made proclamations of grand changes on this blog? I'm admittedly starting to lose count.

The one person that got me into trading was my Dad. I talk to him on a daily basis, usually sharing my screen so that he can look in from time to time whilst i'm trading. I can always rely on him for the harsh truth if and when i'm ignoring it myself. Yesterday was no different.

I mentioned in my last post that Kiwi had the potential to bounce from the trend line and produce another sell set up. It did exactly this so I took another short. All annotated on the chart below.

NZDUSD 1HR

I was feeling good about this short so when a set up appeared on the 15min / 3min combination i've so far been using for the year, I decided to take this as well. Once news came around at 13:15pm. This didn't go as well.

NZDUSD 15min / 3min

To be perfectly honest I was pretty happy with this entry. It just didn't go as far as I wanted it to, it got to about 12 pips at most.

So after this loss and bringing my account pretty much back to square one for the year I asked my Dad a simple question.

"What am I now doing wrong?"

His response?

"Stop tinkering, you're worse than Van Gaal - go back to your set up you've been using since the start of the year and scalp 10 pips a trade or take what's on the table - you've tried everything else!"

Trust him to use a football analogy! And to be perfectly honest. He's right.

The last few days i've been talking about long term P&F charting and not really looking at what served me so well during February and March. I've tried long term stuff in the past. It didn't really work for me. I might still demo some entries but for now it's time to get to back to what I was doing well.

EURUSD.
15min volume zones.
3min P&F.

Keep It Simple Stupid.